Hypocrisy of Global Elite at the World Economic Forum. WEF, More like WTF.

Quick Breakdown of what we are getting into today:

1. Hypocrites in Davos, The World Economic Forum's Elite Agenda.

2. First Home Buyer’s Have a New Confusing Policy for Encouraging Downsizing in New South Wales.

3. The Potential Productivity Boom of the Internet.

4. Canada Housing Market Faces Steep Declines in Prices

Let’s Dive In!

Newsletter: QTR’s Fringe Finance

Title: World Economic Fuck'em.
Link:

World Economic Fuck'em

Here are the top takeaways:

• The World Economic Forum is a group of self-righteous global elites who are increasingly starting to resemble a globalist government. They are constantly lecturing the rest of the world on what they should be doing, and their latest initiative is to get everyone to stop using fossil fuels.

• The World Economic Forum has been around for over 5 decades !?!

• The WEF is completing its mission as it is “an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.”

• They definitely are shaping society, but the problem lies in them thinking they speak for billions of people. Assuming superiority over others is not a productive mindset.

• These “elites” are hypocrites. They claim to care about the environment and social inequality, but they live in a way that contributes to these problems. They use products made by exploited workers, pollute the air with their private jets, and support systems that widen the inequality gap.

• Interesting note** the only G7 leader present is German Chancellor Olaf Scholz. Ironic that the European country having the most significant energy issues is pushing the WEF narrative.

Newsletter: Fresh Economic Thinking

Title: Can removing stamp duty "free up" homes by encouraging retirees to downsize?
Link: https://fresheconomicthinking.substack.com/p/can-removing-stamp-duty-free-up-homes

Here are the top takeaways:

• The New South Wales (NSW) government has enacted a policy called First Home Buyer Choice, which allows first home buyers to choose whether to pay stamp duty on their purchase or an ongoing property tax.

• Stamp duty is not the best way to encourage downsizing, because it only incentivizes a small number of people to do it. It's also not an ongoing solution, because every year more and more homes are freed up by death.

• This policy is strange, because it doesn't actually incentivize first home buyers to downsize later in life. Instead, it just gives them the choice of how to pay for their purchase.

• There is a similar policy in the UK, which has caused problems because it discourages older people from downsizing. This actually makes it harder for young people to find housing

Newsletter: Noahpinion

Title: Repost: Distributed service-sector productivity.
Link: https://noahpinion.substack.com/p/repost-distributed-service-sector

Here are the top takeaways:

• The internet has the potential to spark a second productivity boom, just as electricity did in the early 20th century.

• To realize the full benefits of the internet, businesses will need to reorganize themselves around the new technology. This could mean fragmenting and dispersing themselves in order to take advantage of online collaboration, or shifting from brick-and-mortar business to e-commerce.

• Either way, the possibilities for productivity improvements are enormous.

• The shift to working from home will have profound implications for productivity. By eliminating the need to commute, workers will save time and money. In addition, task outsourcing and improved management of outsourcing will lead to more efficient use of time and resources.

• Finally, telehealth and distance education will make these services more efficient and cost-effective.

Website: Wolf Street

Title: The Most Splendid Housing Bubbles in Canada, January Update: Prices Plunged, Housing Bust Gets Real
Link: https://wolfstreet.com/2023/01/17/the-most-splendid-housing-bubbles-in-canada-january-update-prices-plunged-housing-bust-gets-real/

Here are the top takeaways:

• Housing inflation was created by central banks' increased money production and decreased interest rates. This had global consequences, resulting in considerable worldwide inflation. Now, the cost of the monetary expansion must be paid.

• Home prices in Canada dropped 1.2% from November to December. This is now 9 month to month declines in prices. (Down 17.4% since peak)

• Prices in key cities in Canada are dropping far faster as well

  • Hamilton-Burlington: Peak drop of 24.9%.

  • Toronto: Peak drop of 19%

  • Ottawa: Peak drop of 16.1%

• During the GFC (great financial crisis), Canada did not experience much of a housing bust. Now the housing bust is here, and its real, and its not seasonal or whatever. Homes are being repriced on a large scale.

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